New York, March 07, 2018 (GLOBE NEWSWIRE) --
Corrugated box, crate, intermodal freight containers, drum, bulk box, insulated and unit load device are some of the types of shipping containers.
A shipping container is basically a container which are suitable for storage, shipment and other handlings. There is a wide range of shipping containers right from boxes made of steel that are generally used for intermodal shipments to ubiquitous corrugated boxes.
The term shipping container or container resembles intermodal freight container in the context of international shipping trade. Intermodal freight container is the container which is designed in such a way that it can move from one mode of transport to another where unloading and reloading is not required.
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Global shipping containers market is anticipated to see noteworthy valuation of market and a healthy rate of growth during the estimated period, i.e. between 2017 and 2025. The global market was valued excess of US$ 4500 Mn in the year 2016 and is likely to be valued excess of US$ 10 Bn by the end of 2025, expanding at the Compound Annual Growth Rate of 8.3% during the projected period.
Growing Sales of Specialized Containers to Boost the Evolution of Global Shipping Containers Market
Various factors such as growing demand for superior and highly efficient containers, rising sales of specialized containers, which is one of the types of shipping containers, slow but steady development in seaborne trade, and rising containerization are contributing in the development of worldwide market for shipping containers market.
There are excellent growth opportunities for global shipping containers market in the years to come due to favorable policies of government across the world, large demand for reefer containers and rising preference for cube containers which are 40 feet in height.
Dry Container Segment to dominate Global Shipping Containers Market
One of the important segments of the worldwide market for shipping containers is dry container which has a high market value. With a value of excess of US$ 7.5 Bn by the end of 2025, dry container segment is likely to dominate the overall market and also expected to expand at a high CAGR throughout the period of assessment.
The second largest segment in the market is reefer containers which is anticipated to grow at highest rate throughout the projected period.
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Asia Pacific to Grab Highest Revenue Share in Global Shipping Containers Market
Asia Pacific region is dominating the global market by capturing highest market share during the forecasted period. Apart from dominating the globe with highest market share, this region is also likely to grow at healthy CAGR and is projected to be valued excess of US$ 4 Bn by the end of 2025.
Some of the factors which are responsible for this exponential growth are development in infrastructure and construction industry and modernization of infrastructure. This region is the largest and is likely to lead the market throughout the period of assessment. Europe is the second largest region and is likely to capture remarkable market share in the global shipping containers market.
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Key Market Players
Some of the key manufacturers functioning in the global shipping containers market are as follows-
IWES LTD., China International Marine Containers Co., Ltd., CARU Containers B.V., Singamas Container Holdings Limited, OEG OFFSHORE LIMITED, CXIC Group Containers Company Limited, TLS Offshore Containers International, Maersk Container Industry, YMC Container Solutions, Sea Box, W&K Container
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